Digital currency has the attribute of national sovereignty
1、 Different definitions:
1. virtual currency:
virtual currency refers to non real currency
Digital currency:digital currency is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy
3. Cryptocurrency:
cryptocurrency is a kind of transaction medium that uses cryptography principles to ensure transaction security and control the creation of transaction units
4. Token (token):
a kind of article whose shape and size are similar to currency, but the scope of use is limited and has no currency effect, and its token is the homonym of token in English
Second, the characteristics are different:1; It can also be said that virtual currency is personalized currency. In another way, it can also be called information currency
2. Digital currency:
is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities
Cryptocurrency:cryptocurrency is based on the decentralized consensus mechanism, which is opposite to the banking and financial system relying on the centralized regulatory system
4. Token (token):
usually needs to be exchanged for money, used in shops, playgrounds, mass transportation and other places, as a voucher to use services and exchange goods
extended data
at present, digital currency is more like an investment proct, because it lacks a strong guarantee agency to maintain its price stability, and its role as a value measure has not yet appeared, so it can not be used as a means of payment. As an investment proct, digital currency cannot develop without trading platform, operating company and investment company
digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields except digital currency, which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market and financial stability
at the end of 2013, the central bank and other five ministries and commissions jointly issued the bitcoin risk notice, which clearly defined bitcoin as a special Internet commodity, and people can buy and sell it freely at their own risk. But it denies its monetary attribute. At this stage, bitcoin cannot and should not be used as currency
Ruitai, Qianjin card, Laite and other digital currencies are all applicable to the definition of bitcoin. Digital currency can exist as a commodity.
we can understand that digital currency is an account book containing all historical transactions. Each block will have several transaction records, which can be viewed by all participants. Each participant of digital currency has to maintain this account book together, Digital currency is a collection of transaction data
for example, in the field of digital currency bitcoin, there will be the concept of "miner". Miner needs to constantly repeat operations to generate workload, and each miner has competition. It needs to complete a mathematical problem based on cryptographic hash algorithm. The answer is in the area, if who works out the answer first, So who can broadcast in the network that he has obtained this block, other miners will not go to this block for mining, but will work in the next block. Miners will have more transaction costs in his block, and they will generate what we call digital currency bitcoin as a reward, and then they will go to their own digital currency bitcoin account
there is no problem with digital currency itself. There may be criminals using digital currency as a cover to cheat, which needs to be carefully screened
1. The volume of digital currency is too large. With the development of digital currency, the volume of digital currency stored in nodes is becoming larger and larger, and the computing burden is also increasing. Colleagues have also caused a lot of impact on the operation of digital currency bitcoin client
2. There is a problem with the data confirmation time. The time for a digital currency bitcoin transaction is about 10 minutes. If we confirm six times, we need to wait for an hour, which is a long time;